How Do You Write A Debt Settlement Letter?
Credit card and loan debt plague millions of Americans every year. Whether it’s due to poor choices in your younger years or unexpected situations such as an injury or loss of work, the inability to repay financial debts can hinder you for life. Unsettled debts destroy your credit score, making it nearly impossible to recover. While it can be overwhelming once you are able to pay these debts, writing a debt settlement letter can assist you in settling your debts without burdening your current financial position. Question the debt. Before you attempt to settle your debts, make sure you owe them. There are numerous cases of identity fraud reported, so if you question a debt or know you yourself did not incur this debt, request that the creditor validate that the debt is actually yours to pay. Know your rights. When you compose your letter to your creditors, ask them to consider removing your negative debt from your credit report. Explain that according to the major credit bureaus, credit
